Sales of intangible property during cessation of business activity is nonbusiness incomeJanuary 2007Illinois Law Update, Page 14The Illinois Appellate Court, First District, affirmed on November 9, 2006, the Circuit Court of Cook County's grant of summary judgment in favor of the plaintiff after the Illinois Department of Revenue (Department) issued a notice of deficiency against her for alleged failure to report over $20 million in partnership income.

A new — and overdue — Uniform Partnership ActBy Helen W. GunnarssonAugust 2002LawPulse, Page 392Partnership will become an even more attractive form of business organization under the revised Act. But when will lawyers be able to form LLPs?